Shaker Financial Services LLC acquired a new position in Tri-Continental Co. (NYSE:TY – Get Rating) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 53,962 shares of the investment management company's stock, valued at approximately $1,383,000.
Other institutional investors have also added to or reduced their stakes in the company. Tower Wealth Partners Inc. raised its holdings in Tri-Continental by 3.4% in the fourth quarter. Tower Wealth Partners Inc. now owns 11,817 shares of the investment management company's stock worth $303,000 after purchasing an additional 387 shares in the last quarter. Armstrong Advisory Group Inc. bought a new position in Tri-Continental in the fourth quarter worth $28,000. Whitener Capital Management Inc. raised its holdings in Tri-Continental by 56.8% in the third quarter. Whitener Capital Management Inc. now owns 24,857 shares of the investment management company's stock worth $635,000 after purchasing an additional 9,004 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Tri-Continental by 79.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 429,572 shares of the investment management company's stock valued at $10,979,000 after acquiring an additional 190,359 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in shares of Tri-Continental by 15.0% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 40,006 shares of the investment management company's stock valued at $1,023,000 after acquiring an additional 5,230 shares in the last quarter. Institutional investors own 9.78% of the company's stock.
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Tri-Continental Stock Performance
Shares of NYSE:TY opened at $26.67 on Friday. Tri-Continental Co. has a 1-year low of $25.23 and a 1-year high of $30.55. The business has a fifty day moving average price of $26.60 and a 200-day moving average price of $26.75.
Tri-Continental Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 21st. Stockholders of record on Monday, March 13th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, March 10th. This represents a $1.16 annualized dividend and a dividend yield of 4.35%.
Tri-Continental Profile
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Tri-Continental Corp. is a diversified, closed-end management investment company, which invests primarily for the longer term. Its objective is to produce future growth of both capital and income while providing reasonable current income. The company was founded on January 14, 1929 and is headquartered in Boston, MA.
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